Today, Devin and Alexander are back answering listener questions. Tune in as we explore:
Jamie's request for a detailed walkthrough of a monthly brokerage account statement, explaining where to find and understand fees, and demystifying various financial terms in plain English.
Carl's situation as a 58-year-old with a diversified $1.1 million nest egg, seeking advice on overcoming the fear of retiring despite having solid financial resources, zero debt, and multiple income streams from pensions and investments.
John's inquiry about the implications of cashing in a 30-year-old MetLife whole life policy, including tax considerations, potential impacts on medical insurance premiums, and alternative ways to reinvest the funds.
Ken from Florida's strategy on maximizing retirement savings through Roth and Pre-Tax 401k contributions, the benefits of Roth IRA versus Roth 401k, and navigating contribution limits to optimize tax efficiency and investment options.
Shawn's quest to understand the best methods for locking in a 6% return over the long term, exploring various investment vehicles and strategies.
Patrick's interest in the tax implications of holding equity investments in a non-tax-advantaged account, specifically using an S&P index fund, and how gains would be reported and taxed.
If you’re thinking, "I love the Big Picture Retirement podcast!” please consider rating and reviewing this show! This helps us support more people -- just like you -- move toward a confident retirement. Just scroll down to the “ratings and reviews” section, tap to rate with five stars, and select “Write a Review.” Then be sure to let us know what you loved most about the episode!
Also, if you haven’t done so already, follow the podcast. We add new content every week, and if you’re not following, you’ll likely miss out. Follow now!
Don’t miss the Big Picture Retirement Planning Cheat Sheet. We've distilled the essential brackets, thresholds, and rules of retirement into an easy-to-digest, three-page summary. https://www.carrolladvisory.com/pl/2148282517
Want to ask Devin or John your question? Just visit https://www.bigpictureretirement.com/ and click on the “Ask A Question” menu selection.
Although this show does not provide specific tax, legal, or financial advice, you can engage Devin or John through their individual firms.
Contact Devin’s team at https://www.carrolladvisory.com/
Contact John’s team at https://www.rossandshoalmire.com/
In this episode we’re answering listener voicemails and tackling some tough questions about Social Security, RMDs, estate planning, and more.
First up, we help Diane, whose husband is a minister, figure out why his Social Security benefits don’t include his housing allowance, even though he pays taxes on it. Then, we talk through a listener’s concerns about how changing the title on a brokerage account could affect the revocable living trust her parents set up.
We also explain how Required Minimum Distributions (RMDs) work and why the percentage you have to take out increases as you get older. Next, we respond to John H., who challenges our math on whether it’s better to withdraw an entire IRA at once or spread it out over 10 years. Finally, we offer advice to Richard, who’s looking for a new attorney to update his and his wife’s wills after losing contact with their original lawyer.
If you’ve ever wondered about Social Security, trusts, or retirement strategies, this episode is packed with practical tips and answers to common questions. Tune in and get the clarity you need for your retirement planning!
If you’re thinking, "I love the Big Picture Retirement podcast!” please consider rating and reviewing this show! This helps us support more people -- just like you -- move toward a confident retirement. Just scroll down to the “ratings and reviews” section, tap to rate with five stars, and select “Write a Review.” Then be sure to let us know what you loved most about the episode!
Also, if you haven’t done so already, follow the podcast. We add new content every week, and if you’re not following, you’ll likely miss out. Follow now!
Don’t miss the Big Picture Retirement Planning Cheat Sheet. We've distilled the essential brackets, thresholds, and rules of retirement into an easy-to-digest, three-page summary. https://www.carrolladvisory.com/pl/2148282517
Want to ask Devin or John your question? Just visit https://www.bigpictureretirement.com/ and click on the “Ask A Question” menu selection.
Although this show does not provide specific tax, legal, or financial advice, you can engage Devin or John through their individual firms.
Contact Devin’s team at https://www.carrolladvisory.com/
Contact John’s team at https://www.rossandshoalmire.com/
In this episode of Big Picture Retirement, Devin is joined by Alexander Davis, a financial advisor at Carroll Advisory Group, to address some of the most pressing questions from our listeners. Together, they answer a range of questions, including:
Charles' query on the order and process of completing Required Minimum Distributions (RMDs) before making Roth Conversions.
Ted's strategy on transitioning maturing tIRA CDs into investment grade and Treasury short and intermediate-term bond funds, and the potential benefits of bond ETFs.
Kathy's decision-making process around her company's "Social Security Leveling" offer and its impact on her retirement plan.
Claire's approach to allocating her funds in the first year of retirement, balancing between funds, dividend-paying stocks, cash reserves, and a contingency pot for market fluctuations.
Chris' best practices for creating an income stream from Roth and pretax retirement assets, considering the effectiveness of dollar-cost averaging in withdrawal strategies.
Mike's frustrations with financial advisors who focus more on sales pitches than on comprehensive retirement planning, and his successful journey of managing his own retirement plan for over six years.
If you’re thinking, "I love the Big Picture Retirement podcast!” please consider rating and reviewing this show! This helps us support more people, just like you, move toward a confident retirement.
Just scroll down to the “ratings and reviews” section, tap to rate with five stars, and select “Write a Review.” Then be sure to let us know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast. We add new content every week, and if you’re not following, you’ll likely miss out. Follow now!
Don’t miss the Big Picture Retirement Planning Cheat Sheet. We've distilled the essential brackets, thresholds, and rules of retirement into an easy-to-digest, three-page summary.
https://www.carrolladvisory.com/pl/2148282517
Want to ask Devin or John your question? Just visit https://www.bigpictureretirement.com/ and look for the tab on the right side that says “Send A Voicemail.
”Although this show does not provide specific tax, legal, or financial advice, you can engage Devin or John through their individual firms.
Contact Devin’s team athttps://www.carrolladvisory.com/
Contact John’s team athttps://www.rossandshoalmire.com/
Want to ask a question? You can find us in our Facebook group. https://www.facebook.com/groups/bigpictureretirement
In this episode, Devin and John dive into a variety of listener questions, discussing annuities, maxing out retirement plans, why HSAs aren't widely talked about, IRMAA, and more. Tune in as we explore:
Claudia's Situation: Understanding the distribution requirements for inherited qualified and unqualified MYGA accounts in light of recent tax law changes. We discuss the tax implications of cashing out one account at the rollover date versus waiting, and which account is better to save for children’s inheritance to lessen their tax burden.
Warren's Issue: Dealing with IRMAA surcharges on Medicare premiums after selling company assets and the impact of high income on Social Security benefits.
Rob's Request: Suggestions for adding "Married filing separately" information to our new "Big Picture Retirement Planning Cheat Sheet."
Rick Dunn's Question: Clarifying the maximum contributions to IRAs plus an employee deferment program (401k).
Michael's Concern: Exploring why Health Savings Accounts (HSAs), despite being excellent tax-saving products, aren't more widely promoted by financial advisors.
If you’re thinking, "I love the Big Picture Retirement podcast!” please consider rating and reviewing this show! This helps us support more people, just like you, move toward a confident retirement.
Just scroll down to the “ratings and reviews” section, tap to rate with five stars, and select “Write a Review.” Then be sure to let us know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast. We add new content every week, and if you’re not following, you’ll likely miss out. Follow now!
Don’t miss the Big Picture Retirement Planning Cheat Sheet. We've distilled the essential brackets, thresholds, and rules of retirement into an easy-to-digest, three-page summary.
https://www.carrolladvisory.com/pl/2148282517
Want to ask Devin or John your question? Just visit https://www.bigpictureretirement.com/ and look for the tab on the right side that says “Send A Voicemail.
”Although this show does not provide specific tax, legal, or financial advice, you can engage Devin or John through their individual firms.
Contact Devin’s team athttps://www.carrolladvisory.com/
Contact John’s team athttps://www.rossandshoalmire.com/
Want to ask a question? You can find us in our Facebook group. https://www.facebook.com/groups/bigpictureretirement